DUBAI 29 April 2020: Dubai Gold & Jewellery Group (DGJG) has announced the re-opening of Deira Gold Souk, in accordance with the directives by the Supreme Committee of Crisis and Disaster Management.
Starting April 26, retailers within the souk began operating at reduced trading hours – retail stores to operate from 11 am to 9 pm and wholesale offices to work from 10 am to 5 pm.
Prior to the opening, Dubai’s Al RasNaif, Deira Gold Souk and individual stores have completed an extensive sterilization programme with stringent guidelines and to ensure the Dubai Department of Economic Development’s retail protocols within strict health and safety guidelines.
Tawhid Abdullah, Chairman of DGJG said, “We express our gratitude towards the leaders of this country, all the Government entities, Dubai Police, CID and all the first responders who worked tirelessly to get us to this point. The UAE has led by example and left no stones unturned before easing the Covid-19 restriction and opening shopping malls, markets and commercial outlets. It is a good step towards safely opening the economy and as an industry we are all gearing up to meet government expectations and consumer confidence. It is our collective effort aimed at successfully implementing the retail protocol mandated by Dubai Economy in a manner that is both safe and effective, as we prepare in stages in the coming months to work towards 100% capacity operations.”
Also, with the partial opening of malls, there are more than one retail touchpoint for the gold and diamond jewellery consumers.
As per the guidelines, this stage of retail operations will allow retailers to employ 30% of the workforce and customers, that will enable the correct practice of physical distancing norms. Sanitisers, masks and gloves will be made available for all staff and everyone including customers to minimise any risk within the outlets.
Chandu Siroya, Vice-Chairman of DGJG, added by saying, “Dubai gold and diamond jewellery retailers are doing a great job on by following all the required precautions. They will operate in accordance with all guidelines as laid by Dubai Government to ensure the health and safety of our retailers and customers. From adhering to the timings to sanitizing jewellery pieces, we are working at all levels to ensure that customers feel safe to shop.”
Abdul Salam KP, Treasurer of DGJG, said, “From last year’s Akshaya Tritiya to this year’s Akshaya Tritiya, gold prices are up about 35% in a span of one year and is expected to further rise. With the opening of the retail outlets, we expect gold jewellery demand to pick up as gold has proven to be a safer investment option in this market condition. Historically the value of gold jewellery has appreciated during uncertain times, pandemic, or an economic slowdown. This can be easily analysed by studying the last 20 years, as gold price is hiked by 500 per cent.”
DGJG will also guide the retailers to debrief all working staffs how to monitor customers within the souk area or outlets to ensure all standards are met andfocus on cutting short the impact of Covid-19.
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